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Bigger Bitcoin correction is on the cards

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Preethi Kasireddy told attendees at the Yahoo Finance All Markets Summit on Thursday that last year was “crazy” and that she thought the correction in the price of Bitcoin at the start of 2018 would have been greater.

“It has kind of teetered out at this point, but I actually think there will be an even bigger correction,” she warned. Kasireddy said prices are not at the bottom of the trough and that the drop seen so far is “minor”.

Her comments came after a survey by price comparison site finder.com found Bitcoin is expected to hit just US$14,638 (£10,995) by 31st December 2018 – half of January’s prediction of US$33,000 (£24,791). Bitcoin has not risen above £10,000 since it fell in January.

Emily Perryman

Emily is an award-winning financial journalist with over a decade of experience writing for consumer, trade and national publications. She writes about FinTech, investments, pensions, property and healthcare. Her work has appeared in titles such as The Financial Times, The Independent and Shares magazine.